26
Jul
Parliament has passed the Tax Exemptions Bill 2022 to streamline the tax exemption regime in the country. The Bill, among other things, comprises tax waivers given to local and foreign companies to encourage increased investment and more foreign direct investment in the economy. When assented to by the President, the Tax Exemptions Bill will strengthen the monitoring role of the Ministry of Finance and Parliament on the management of exemptions. Also, it will seek to provide a regulatory regime for monitoring tax exemptions to ensure that exemptions granted are used for the intended purposes, as well curtail the abuse of…